Flywire Co. (NASDAQ:FLYW) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Flywire Co. (NASDAQ:FLYW) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,445,629 shares of the company’s stock after purchasing an additional 97,412 shares during the period. Bank of New York Mellon Corp owned about 1.16% of Flywire worth $23,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amalgamated Bank increased its position in Flywire by 3.3% in the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after acquiring an additional 486 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Flywire by 3.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after buying an additional 702 shares during the last quarter. Assetmark Inc. grew its holdings in Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares during the period. Finally, Ascent Group LLC lifted its stake in shares of Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $17.38 on Thursday. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $34.07. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -158.00, a PEG ratio of 6.69 and a beta of 0.98. The stock’s 50 day moving average price is $17.55 and its 200 day moving average price is $19.78.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. On average, sell-side analysts expect that Flywire Co. will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLYW. Citigroup cut their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Wedbush restated a “neutral” rating and set a $18.00 target price on shares of Flywire in a research note on Thursday, May 23rd. Royal Bank of Canada decreased their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, BTIG Research decreased their price target on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Flywire Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.